Google releases Q2 2013 earnings report, misses analyst expectations

This afternoon, Google released its earnings report for the second quarter of 2013. The company reported a total revenue of $14.11 billion, $3.23 billion of which accounted for net income. Unfortunately, these numbers equate to earnings of $9.56 per share which misses Wall Street's expectations by about $1. During the same quarter in 2012, Google managed to bring in a total revenue of $12.21 billion of which $2.79 billion was income. So year-over-year, Google has managed to grow 19 percent which is nothing to scoff at.

Wall Street analysts did have high hopes for Google this quarter with the industry leader Morgan Stanley predicting revenues would be up 20 percent higher than they were a year ago. They had expected YouTube to perform much better as it had begin upping payments to partners by 60 percent which everyone thought indicated higher revenue growth than expected. I feel that the third quarter or the fourth quarter will be Google's best for 2013. With the Moto X releasing soon as well as a new Nexus 7 and Google Glass set to hit the market, big things should be on the way for the search giant.